Launch of Giant SAVIC Industrial Project to Boost Economic Transformation in the Kingdom
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Riyadh – The Royal Commission for Al-Ahsa today announced the operational launch of the foundational phase for the massive SAVIC industrial project, a key pillar of Saudi Vision 2030 aimed at diversifying the economic base and advancing sophisticated manufacturing industries.
This step marks the official inauguration of the first phase of the giant project, which aims to establish one of the Middle East’s largest integrated industrial complexes for petrochemical refining and high-value chemical production. The project will be located in Ras Al-Khair Industrial City, leveraging the area’s advanced infrastructure and strategic positioning.
According to the Royal Commission’s statement, SAVIC aims to attract over SAR 80 billion in investments during the next decade while creating more than 15,000 direct and indirect jobs for qualified Saudi nationals. The project will also facilitate the transfer and localization of advanced technologies while strengthening local supply chains.
In his inauguration ceremony speech, His Excellency Eng. Essam bin Saleh Al-Muaamar, Governor of the Royal Commission for Al-Ahsa, affirmed: “The SAVIC project represents a qualitative leap for the national industry, reflecting the Kingdom’s commitment to achieving sustainable industrial leadership that supports the economy and provides promising opportunities for future generations.” He added that the first phase targets producing over 5 million tons annually of high-quality petrochemical products.
The inauguration was attended by senior officials and representatives of local and international investment firms, where preliminary agreements were signed with leading industrial companies to commence development and construction. The first production units are scheduled to begin commercial operations by the fourth quarter of 2027.
The SAVIC project is part of Saudi Arabia’s portfolio of major industrial initiatives to cement its position as a global hub for industry and innovation. This step underscores accelerating momentum toward achieving Vision 2030’s ambitious goals of building a knowledge-based, sustainable, and diversified economy.
صحيفة عكاظ اليوم ، موقع إخباري شامل يهتم بتقديم خدمة صحفية متميزة للقارئ، وهدفنا أن نصل لقرائنا الأعزاء بالخبر الأدق والأسرع والحصري بما يليق بقواعد وقيم الأسرة السعودية، لذلك نقدم لكم مجموعة كبيرة من الأخبار المتنوعة داخل الأقسام التالية، الأخبار العالمية و المحلية، الاقتصاد، تكنولوجيا ، فن، أخبار الرياضة، منوعات و سياحة.